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Robert Olstein: We like to buy bad news

April 07, 2005
Robert Olstein, whose Financial Alert Fund outperformed the Standard & Poor's 500 Index in eight of the past nine years, said he tries to avoid money-losing investments by buying stocks that have already collapsed. We like to buy bad news because it produces the right price. We look first at how much we can lose before we think of the upside. His research is based on microscopic study of financial reports. He does not talk to management, he said it is a waste of time

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